Log in
Forgot password ?
Become a member for free
Sign up
Sign up
Dynamic quotes 

4-Traders Homepage  >  Equities  >  Xetra  >  Volkswagen    VOW3   DE0007664039

Mes dernières consult.
Most popular
News SummaryMost relevantAll newsSector newsTweets

VW: Evaluation of Porsche Brand Takeover Options Still Ongoing

share with twitter share with LinkedIn share with facebook
share via e-mail
06/09/2012 | 04:57pm CET

Volkswagen AG (>> Volkswagen AG) said Saturday the evaluation of possible options for an earlier takeover of Porsche Automobil Holding SE's (PAH3.XE) sportscar unit hasn't been finalized yet after a German media report suggested the auto makers identified a way to bypass a large tax payment and could push through the deal as early as August.

"The evaluation hasn't been finalized yet. As soon as we have the necessary clarity we'll inform about it in due course," Volkswagen said in a statement. The management of Volkswagen controls both Europe's largest auto maker by sales and Porsche's holding firm.

VW already owns a 49.9% stake in Porsche's core sportscar business and wants to take over the remaining 50.1% to reap more cost savings after the plan for a fully fledged merger including Porsche's holding firm had to be abandoned last year due to legal obstacles.

Porsche sold the 49.9% stake in its sports-car unit to Volkswagen in 2009 as part of a complex deal to forge a combined company after its attempt to take over its much larger rival backfired amid ballooning debt in the aftermath of the financial crisis.

At the time, Porsche and Volkswagen mutually granted each other options to transfer the remaining 50.1% stake to Volkswagen if the initial plan for a merger including Porsche's holding firm doesn't work out.

A key aspect of this alternative scenario, however, is a potential tax charge if Volkswagen and Porsche go ahead with the deal before mid-2014. Concluding the deal earlier would enable Volkswagen and Porsche to extract more cost savings faster.

Weekly Wirtschaftswoche reported earlier Saturday on its website that financial authorities in the German federal state of Baden-Wuerttemberg ruled that the deal won't trigger a tax payment of up to EUR1.5 billion if in addition to a purchase price of EUR4.5 billion Porsche's holding firm also receives one single voting share in VW. Baden-Wuerttemberg's finance ministry would view this scenario as a tax-free reorganization instead of an outright sale, according to the report. Baden-Wuerttemberg's finance ministry wasn't immediately available on Saturday.

Write to Christoph Rauwald at [email protected] and Philipp Grontzki at [email protected]

Stocks mentioned in the article : Volkswagen AG
Stocks mentioned in the article
ChangeLast1st jan.
PORSCHE -1.77% 64.3 Delayed Quote.-7.85%
VOLKSWAGEN -2.72% 153.68 Delayed Quote.-7.67%
share with twitter share with LinkedIn share with facebook
share via e-mail
Latest news on VOLKSWAGEN
03/23EU plans tougher consumer laws for Facebook, Gmail
03/23VOLKSWAGEN : Brand to Introduce 12 New SUVs in China by 2020
03/22ELON MUSK : Tesla shareholders approve CEO Musk's $2.6 billion compensation plan
03/21VOLKSWAGEN : Africa agrees to giant trade bloc, but Nigeria, South Africa sit it..
03/21Skoda also ditches UK vehicle agency over Brexit uncertainty
03/21VOLKSWAGEN : Germany's Merkel rejects nationwide driving bans for diesel cars
03/21VOLKSWAGEN : VW's Skoda seeks agreement with unions, proposing 8.3 percent wage ..
03/20Global trade war biggest concern at G20 meeting - German minister
03/20How United States, others regulate autonomous vehicle testing
03/20BAYERISCHE MOTOREN WERKE : BMW searched by German police in emissions swoop
More news
News from SeekingAlpha
03/23WSJ : EPA tentatively decides to ease vehicle emission standards 
03/21REPORT : U.S. drops auto content demand, clearing path in NAFTA talks 
03/20Chinese control of cobalt supply is risk for car industry, Glencore CEO says 
03/20Volkswagen HQ searched again by prosecutors 
03/20U.S. safety agencies probe first self-driving death 
Financials (€)
Sales 2018 240 B
EBIT 2018 18 276 M
Net income 2018 13 353 M
Finance 2018 24 587 M
Yield 2018 3,55%
P/E ratio 2018 5,81
P/E ratio 2019 5,52
EV / Sales 2018 0,22x
EV / Sales 2019 0,19x
Capitalization 77 606 M
Duration : Period :
Volkswagen Technical Analysis Chart | VOW3 | DE0007664039 | 4-Traders
Technical analysis trends VOLKSWAGEN
Short TermMid-TermLong Term
Income Statement Evolution
Mean consensus OUTPERFORM
Number of Analysts 30
Average target price 196 €
Spread / Average Target 27%
EPS Revisions
Matthias Müller Chief Executive Officer
Hans Dieter Pötsch Chairman-Supervisory Board
Martin Hofmann Head-Group Information Technology
Peter Mosch Member-Supervisory Board
Bernd Osterloh Member-Supervisory Board
Sector and Competitors
1st jan.Capitalization (M$)
VOLKSWAGEN-7.67%95 862
TOYOTA MOTOR CORP-9.55%205 652
DAIMLER-7.10%86 915
HONDA MOTOR CO LTD-11.57%60 014